Sensex, Nifty Likely To Have A Subdued Opening

Asian markets were holding their nerve on Monday as a plunge in the Turkish lira tested risk appetite, with stocks and bonds showing only a limited bid for safe-havens

The domestic stock markets are likely to start the week on a cautious note due to mixed global cues. Trends on SGX Nifty indicate a flat opening for the index in India, with a 2-points gain. At 7:30 am, the Nifty futures were trading virtually unchanged at 14,520 on the Singapore Stock Exchange. Asian markets were holding their nerve on Monday as a plunge in the Turkish lira tested risk appetite, with stocks and bonds showing only a limited bid for safe-havens. Japan's Nikkei fell 1.4 per cent, not helped by talk Japanese retail investors could face losses on large long positions in the high-yielding lira. The Nasdaq ended mixed on Friday, lifted by Facebook and energy shares as U.S. Treasury yields took a break from a recent surge. The Dow Jones Industrial Average fell 234.79 points, or 0.71 per cent, to 32,627.51, the S&P 500 lost 2.71 points, or 0.07 per cent, to 3,912.75 and Nasdaq Composite added 99.07 points, or 0.76 per cent, to 13,215.24